In the previous session, the Nifty index opened on a strong positive note and made high near 18114 levels. The market remained in a positive territory throughout the day. On a technical note, the Nifty index made a bullish candle on the chart indicating strength in the market. Hence, we recommend approaching the market in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for – Tuesday, April 05, 2022’ before the market opens.

Bajaj Finance Ltd

NSE :BAJFINANCE   BSE :500034  Sector : Finance

We have shown a daily chart of Bajaj Finance. As per chart analysis, Ichimoku Cloud is acting as a very good support for the stock. We can see that Stock prices have formed a ‘V- Bottom pattern’. It is a continuation chart pattern, in which we can see that upward price action after a sharp V shape recovery in the stock. In addition, The Relative Strength Index (RSI) on the daily chart is 68 and it is moving above previous high.

In short, one can initiate buy at current price and add more on dips around support levels near 7300 levels. We can expect it to reach a target of 8068 level. This outlook is valid as long as we do not see any closing below 7100 level.

Check More Analysis on BAJFINANCE  at: Bajaj Finance Ltd